"We are very excited to have Valencia Group as a part of our mixed-use main street developments in both San Jose and San Antonio," says Federal CEO Steven J Guttman. "They are an important part of our process of creating irreplaceable assets that will enhance our communities for decades and create long-term value for our shareholders."
The San Antonio office of 3D International is the architect and Memphis-based McMurray Construction is the general contractor. Until January, John Tshiderer has served as development director, but he has been succeeded by Jim Kessler in a reorganization of Federal. Kessler is CEO of development in Federal's Western region.
Houston Street's upcoming projects will include a second hotel, additional retail, office and residential space. Restaurants Banana Joe's and the Palm Restaurant have already opened. When the project was launched, Federal put the Houston Street investment at $70 million, carrying with it the creation of 1,000 jobs.
San Antonio's commitment to the project will be additional street connections from Houston Street to the Riverwalk. The revitalization of Houston Street had been proposed as early as the 1970s by the Downtown Merchants Association.
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